President Donald Trump revealed that Microsoft is among the US companies exploring the acquisition of TikTok to prevent a potential ban. Trump stated that other companies are also interested in purchasing TikTok. The future of TikTok in the US remains uncertain and hinges on Trump's decisions.
President Donald Trump disclosed on Monday evening that Microsoft is among the U.S. companies exploring the acquisition of TikTok to avert a potential ban. Responding to a reporter's inquiry, Trump stated, 'I would say yes,' confirming Microsoft 's interest in facilitating a new ownership structure for TikTok, a requirement stipulated by Congress to maintain the app's functionality within the U.S.
Trump further indicated that other companies were also interested in purchasing TikTok but refrained from disclosing a specific list. 'I like bidding wars because you make your best deals,' Trump remarked to reporters aboard Air Force One while en route to Washington from Miami, where Republican House members were convening a conference. Microsoft declined to comment on the matter. Representatives from TikTok did not immediately respond to a request for comment.TikTok's future in America remains contingent upon Trump's decisions. In one of his inaugural actions last week, Trump extended the deadline for TikTok to secure new ownership that satisfies the government by 75 days, pushing it to April 4th from January 19th. The president has expressed his desire for the ultimate purchaser to grant the U.S. a 50% stake in the company, which is currently owned by China-based ByteDance. However, the specifics remain ambiguous, and it's unclear whether Trump envisions government control of the app or acquisition by another U.S. entity.Last week, the artificial intelligence startup Perplexity AI presented a novel proposal to ByteDance, suggesting the creation of a new entity that merges Perplexity with TikTok's U.S. operations, allowing the U.S. government to hold up to 50% ownership, according to a source familiar with the matter. Several other investors, including billionaire Frank McCourt and Trump's former Treasury Secretary Steven Mnuchin, have publicly declared their interest in acquiring TikTok's U.S. platform. Trump has also asserted that he has engaged in private discussions with 'many people' regarding the company. Following the bipartisan legislation signed by former President Joe Biden in April, ByteDance initially stated its lack of intention to sell the platform and actively challenged the statute in court for several months. China also condemned Washington's divestment efforts, although it appears to be moderating its stance recently. Bill Ford, the chairman of the global investing firm General Atlantic and a ByteDance board member, stated in media interviews last week that the company is prepared to collaborate with both the Trump administration and Chinese officials to find a solution that sustains TikTok's availability. He also suggested the possibility of a solution that doesn't necessitate a complete divestment by ByteDance. Lawmakers and officials from both parties have expressed national security concerns regarding Chinese ownership and potential manipulation on the immensely popular platform, which boasts over 170 million U.S. users. Trump previously favored a TikTok ban before reversing his stance last year, crediting the platform for aiding his victory in securing more young voters during the recent presidential election. Microsoft, alongside Walmart, made an unsuccessful bid for TikTok during Trump's first term after Trump initiated attempts to ban the app. Microsoft CEO Satya Nadella subsequently described the experience as the 'strangest thing I've ever worked on.
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